Business Planning Your Commercial Real Estate Agent Career Now

Now is the time to consider how you can build your commercial real estate career for the year. Every agent and salesperson should have a plan and a process that they follow every day.

In our industry, a salesperson without a plan is like a car without wheels. It will not move ahead for them. It is just a costly mistake, and eventually, the vehicle will rust and fall apart.

Career in Commercial Real Estate Agency Today

If you have decided to make a commercial real estate agency part of your focus and career for this and the next few years, now is the time to consider how you will build your business.  It would help to have a personal business plan to take you forward.

Setting Your Personal Business Plan

Here are some ideas to help you advance as a top agent in the industry.

1: What are your Targets?

Determine the key issues that will make a real difference for you.  It could be more listings, or it could be more commissions. Either way, you will need a good prospecting model, sales pitch, negotiation and inspection strategy, plus a great real estate database of clients and prospects.  How you get those things will need to be part of your plan.

2: Resolve your Agent Weaknesses

Know your weaknesses and do something about them.  In many cases, our business weaknesses (we all have them) are holding us back.  You can either improve your skills to remove the weakness or employ an assistant to handle the problem.

3: Start Practicing

Practice your processes and all your real estate communication skills so you get better results with the things that matter.  Understand what does matter to you and your business. Take action to move ahead with focus.  As a basic rule, this year should be better than the last. Constant improvement is a good rule in our industry.

4: Set deadlines and timelines

Work to deadlines every day to get things done. Break big issues down into smaller steps. Check your progress weekly and monthly to adjust your plan.

5: Gather your resources for action

Get the tools and resources that you need to move ahead.  Fortunately, most of the tools we need are easy to obtain and use.  The rest of the performance equation is personally controlled.  When it’s ‘up to you’, only one person will make all the difference, so take the right action every day.  Create a focus on new business, clients, and listings; make it personal.

6: Goals are Worthwhile

Your real estate goals must be clear and concise so that you can visualise them. Goals are like signposts that help you move ahead. When you have goals, you can take action and refine those actions. So the goals are the start of the process and help you define what you are trying to do. There will be a timeline you can set to that and some ‘thresholds’ that you can work through over time.

7: Set benchmarks and KPIs for moving ahead

Commissions, listings, clients, and marketing should all have benchmarks and KPIs as part of your business plan for the year. Determine the numbers you require in all categories and then work backward with a real estate prospecting plan and a personal marketing plan that could be local by client or property type. Your plans give you momentum.

8: What are other agents doing? (good and bad)

Look at the very good agents locally and learn from what they do. Then, replicate the good things. You can also learn from the poor-performing agents as their problems and issues will be seen and can then be avoided. The right actions in commercial real estate that centre on people are the actions that will help you win more listings and market share.

Build Your Real Estate Agent Plan

This year can be very good for you regardless of the real estate market and the brokerage business you work for or are part of. Create your plan and take action. Understand that you are the leverage tool to take your real estate business forward. Start the process of change.